The bill H.367 proposes the establishment of the Vermont Olympics Task Force, which will be responsible for preparing and presenting a proposal to the International Olympic Committee and the U.S. Olympic and Paralympic Committee regarding Vermont's potential to host the Olympic Games. The Task Force will consist of various members, including representatives from the House and Senate, the U.S. House of Representatives, the State Treasurer, a small business owner in the tourism industry, and an Olympic athlete. The Task Force's duties will include reviewing the hosting process, consulting with regional planning commissions, and ensuring that the proposal aligns with sustainable development goals and the Olympic Movement's objectives.

Additionally, the bill outlines specific requirements for the proposal, such as integrating regional and national development plans, assessing regional strengths, and promoting a sustainable tourism industry. The Task Force is also tasked with providing updates to the General Assembly by specified deadlines, with a final report due by December 31, 2026. The act is set to take effect on July 1, 2025.